The maximum value for the preset in any of the timer functions is 32767, and the timer resolution can be tenths, hundredths, or thousandths of a second, so the longest time interval that a single timer can measure is 3276.7 seconds.
To handle longer increments you need to use some other technique. The most common is to use one timer that times up to 60 seconds and resets itself. Every time the timer gets to seconds, have it increment a counter. The accumulated value in the counter will be minutes, and the accumulated value in the timer will be seconds.
If you can stand the lack of resolution, %S0006 is a contact that stays on for 30 seconds, then goes off for 30 seconds. You could use it as the trigger for the minutes counter.
There are other methods you could use, but these are the most common.